cryptocurrency CryptoExplainer crypto news

Top Stablecoin Tether Cuts Unsecured Assets By About 60% On Crypto Crash

Reading now: 597

Top stablecoin Tether slashes commercial paper holdings amid crypto gloomTether, the world's largest stablecoin, said on Friday it had cut its commercial paper holdings by around 58 per cent as part of an earlier commitment to reduce its exposure to riskier assets.Stablecoins - a variety of cryptocurrencies designed to keep a steady value - are in sharp focus after the collapse of the TerraUSD token in May.Usually underpinned by reserves of assets such as the U.S.

dollar, gold and government debt, stablecoins are widely used in cryptocurrency trading and Tether is the predominant medium for moving funds between crypto or into regular cash.Tether's reserves consist of U.S.

The website is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News